Chola MS and Mahindra Finance join hands to offer motor and other non-life insurance solutions

· Through this partnership Mahindra Finance aims to offer comprehensive financial solutions to its customers

· Partnership to provide motor and other non-life insurance solutions to over 10 million customers of Mahindra Finance, to further expand Chola MS’ distribution network

New Delhi, 7th August, 2024: Chola MS General Insurance, a joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Company Limited of Japan, has announced a strategic partnership with Mahindra Finance, one of India’s leading Non-Banking Finance Companies. This collaboration will provide motor and other non-life insurance solutions to over 10 million customers of Mahindra Finance.

Leveraging Mahindra Finance’s extensive distribution network across India, Chola MS plans to enrich its general insurance offerings with customized digital solutions. These customer-centric solutions are designed to provide long-term financial protection to customers and their families. Both organizations are committed to delivering excellence through innovation and consistency catering to the diverse needs of the customers.

V. Suryanarayanan, MD of Chola MS, stated, “This partnership with MMFSL will further strengthen our distribution network, unlocking growth opportunities through extensive reach. With our wide presence across 26 states, encompassing 600+ touchpoints and a diverse range of products including motor, home, health, personal accident, fire and more, we can cater to various customer segments across India.”

Raul Rebello, Managing Director & CEO, Mahindra Finance, said: “We are pleased to announce our strategic collaboration with Chola MS General Insurance to offer customized motor and other non-life insurance solutions to our customers. This partnership is yet another step in enabling a personalized customer experience while reaffirming our commitment towards being a responsible financial solution partner to Emerging India”.